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Azure Power Azure Power Announces Results for Fiscal First Quarter 2022 Ebene , August 30 , 2021 : Azure Power Global Limited ( NYSE : AZRE ) , a leading independent renewable power producer in India , today announced its consolidated results under United States Generally Accepted Accounting Principles ( " GAAP " ) for the fiscal first quarter 2022 ended June 30 , 2021 . Fiscal First Quarter 2022 ended June 30 , 2021 Operating Highlights : Megawatts ( " MW " ) Operating * were 2,052 MWs , as of June 30 , 2021 , an increase of 23 % over June 30 , 2020. Operating , Contracted & Awarded MWs * were 6,955 MWs , as of June 30 , 2021. Contracted & Awarded megawatts include 4,000 MWs for which we have received Letters of Award ( “ LOA ” ) but the Power Purchase Agreements ( " PPAs " ) have not yet been signed . Operating revenues for the quarter ended June 30 , 2021 were INR 4,440 million ( US $ 59.7 million ) , an increase of 13 % over the quarter ended June 30 , 2020 . Net profit for the quarter ended June 30 , 2021 was INR 697 million ( US $ 9.6 million ) . The increase in net profit was mainly due to an increase in operating revenue by INR 500 million ( US $ 6.7 million ) , refer to the detailed explanation in the net profit section of the commentary below . Adjusted EBITDA for the quarter ended June 30 , 2021 was INR 3,668 million ( US $ 49.3 million ) , an increase of 11 % over the quarter ended June 30 , 2020 . Non - GAAP Cash Flow to Equity ( " CFe " ) from Operating Assets for the quarter ended June 30 , 2021 was INR 1,844 million ( US $ 24.8 million ) , an increase of 12 % over the quarter ended June 30 , 2020 . * Megawatts Operating and Megawatt Operating , Contracted & Awarded exclude the Rooftop Portfolio ( See also other updates section below ) , for which we entered into an agreement to sell subsequent to fiscal year ended March 31 , 2021. We excluded 160 MWS from our Operating , Contracted & Awarded portfolio as of June 30 , 2021 , and the prior comparative period . We excluded 153 MWs from our Operating portfolio as of June 30 , 2021 , and 144 MWs from prior comparable period . The exclusion from prior period is for the purpose of comparison with current year . Key Operating Metrics Electricity generation during the quarter ended June 30 , 2021 was 1,112 million kWh , an increase of 228 million kWh or 25.8 % , over the quarter ended June 30 , 2020. The increase in electricity generation was principally a result of an additional 396 MWs of AC ( 569 MWs DC ) operating capacity , including our Rooftop Portfolio commissioned since June 30 , 2020. Our Plant Load Factor ( " PLF " ) for the quarter ended June 30 , 2021 , was 23.7 % , compared to 23.1 % , for the same comparable periods in 2020 , which increased principally due to the addition of AC and DC capacity in high insolation locations and improved performance by our plants . We commissioned 62 MWs AC ( 64 MWs DC ) during the three months ended June 30 , 2021 against 1 MWs AC ( 3 MWs DC ) during the comparative quarter ended June 30 , 2020. We did not commission any significant capacities during both periods primarily due to COVID - 19 disruptions . Project cost per megawatt operating ( megawatt capacity per the PPA or AC ) consists of costs incurred for one megawatt of new solar power plant capacity during the reporting period . The project cost per megawatt ( AC ) operating for the quarter ended June 30 , 2021 was INR 39.3 million ( US $ 0.53 million ) and for project cost per megawatt ( DC ) was INR 38.5 million ( US $ 0.52 million ) . Excluding the impact of safeguard duties , the AC and DC costs per megawatt for the quarter ended June 30 , 2021 would have been lower by approximately INR 2.1 million ( US $ 0.03 million ) . For the year ended March 31 , 2021 , the project cost per megawatt ( AC ) was INR 42.9 million and project cost per megawatt ( DC ) was INR 28.8 million . As of June 30 , 2021 , our Operating , Contracted & Awarded megawatts were 6,955 MWs . There was no change compared to prior comparable period , other than to reflect the disposal of the Rooftop Portfolio . Contracted & Awarded megawatts include 4,000 MWs for which we have received LOAs but the PPAs have not yet been signed . On the 4,000 MW PPA's , Solar Energy Corporation of